If director take personal loan then how to book it in company's books

This query is : Resolved 
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This discussion addresses how to account for a director taking a personal loan, specifically when that loan is used to repay the company's bank overdraft (OD). It clarifies the accounting treatment required when funds are borrowed personally by the director and then channelled into the business to clear existing bank debt.

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(Querist)
12 September 2023 if director take personal loan then how to book it in company's books

pls tell me the accounting of above subjected matter
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RAJA P M

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RAJA P M (Expert)
13 September 2023 Taken personal loan from where and why
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HEMA

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HEMA (Querist)
13 September 2023 Taken loan to repay company's bank OD
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